Key points:
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Bitcoin falls to its lowest level since June as Us Banking Turmoil familiarly returns.
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Traders see a $100,000 potential failure as support.
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Gold breaks out at fresh all-time highs as Peter Schiff sees it beat Bitcoin to the $1 million mark.
Bitcoin (BTC) fell to 15-week lows on Friday as a US banking rout added to BTC price pressures.
Bitcoin risks “going straight to $98,000” next
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin falling below $106,000 for the first time since June.
Crypto markets reacted negatively to concerns over US banking stocks, which began to fall in a pattern Same as March 2023. Then, Bitcoin and Altcoins saw a flash crash before a strong rebound, with BTC/USD dipping below the $20,000 mark.
“In March 2023, the stocks of the bank region X post.
In reaction, some traders warned of a retest and potential failure of BTC’s key price support at $100,000.
If $ Btc Losing this support, we head straight to $98,000.
Good luck to everyone. pic.twitter.com/sijbppaoom
– Borg (@borg_cryptos) October 17, 2025
Others saw an attempt to “fill” a daily candlestick from last week, which Took the price to $ 102,000 on Binance amid US-China trade war concerns.
“$BTC working on Binance Wick. If it doesn’t end here, it can fill the whole wick close to weekly 50 mA,” trader Superbro write in X.
Moving averages (MAS) are earlier on daily timeframes Failed to handle As support, that leads Bitcoin to touch the 200-day MA for the first time in more than six months.
“$BTC lost the $108,000 support level. Now there is little support until $101,000-$102,000,” Crypto Investor and Entrepreneur Ted Pillows agreed.
“If Bitcoin manages to recover the $110,000 level from here, we will see a bounce back. If not, expect more pain before relief.”
Gold bug Schiff sees $1 million before Bitcoin
Banking woes have begun to take their toll on gold, the standout winner in the current market, which has seen new all-time highs on the daily close.
Related: $120k or end of bull market? 5 things to know in Bitcoin this week
Proponents of gold celebrate its differentiation from Bitcoin. Peter Schiff, the well-known Bitcoin Skeptic chairman and chief economist at the firm advisory firm Europe, predicted that the precious metal will reach $ 1 million per ounce before Bitcoin.
Gold is more likely to hit $1 million than Bitcoin.
– Peter Schiff (@peterschiff) October 16, 2025
“This is not just a de-dollarization trade but a de-bitcoinization trade. Bitcoin fails the test as a viable alternative to the US dollar or digital gold,” he Argued In the recent X exchange.
Others have suggested that a “rotation” in BTC is now more likely.
“Either way, it makes sense to see profits flowing out of gold as soon as the market behaves,” crypto trader Jelle said in X.
An accompanying chart showed periods of Bitcoin leading and “lagging” gold over the years.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.
